SEOUL, Dec. 15 (Korea Bizwire) – Samsung Display Co., the display-making unit of Samsung Group, saw its third-quarter sales of flexible organic light emitting diode (OLED) screens exceed US$1 billion, according to industry data Thursday.
In terms of sales of small and medium-sized flexible OLED screens for smartphones and other wearable gadgets, Samsung Display took the No. 1 spot for the third quarter with a market share of 31.8 percent.
The data by IHS Markit showed Samsung Display posted sales of $3.66 billion in total in the small and medium-sized display market for the third quarter.
Japan Display Inc. came in second with a market share of 15.4 percent for the quarter, followed by LG Display Co. with 13.1 percent.
Samsung Display’s healthy performance appears to be backed by sales of flexible OLED screens.
It was the first time that quarterly sales of Samsung Display’s flexible OLED screens surpassed $1 billion.
Compared with a quarter earlier, sales of Samsung Display’s flexible OLED screens jumped 68.7 percent during the third quarter.
Samsung Display is the world’s only panel manufacturer that produces sixth-generation flexible OLED panels.
Global demand for flexible OLED screens is growing as smartphone makers are increasingly eyeing devices that can be folded.
According to IHS Markit, the global market for flexible OLED screens will grow to $12.8 billion in 2018, from an estimate of $3.9 billion this year.
The market is expected to grow to $18.9 billion in 2020 with an average annual growth rate of 48.6 percent.